(RepublicanPress.org) – Hunter Biden continues to stir up controversy with his business dealings in overseas energy companies in Ukraine and China. Although those dealings haven’t been a closely kept secret, a new report does shed some additional light on President Joe Biden’s son’s ties to a Chinese company.
On November 20, The New York Times published an expose discussing Hunter’s dealings with a China-based company called BHR. According to the report, Biden and two other Americans founded the BHR alongside multiple Chinese partners. The company acquired an interest in a cobalt and copper mine in Congo during Biden’s time as an unpaid board member for BHR. Cobalt is a crucial component in the production of electric car batteries.
A Chinese company called China Molybdenum agreed to pay roughly $2.65 billion for the mining operation and sought out BHR as a shareholder/financer of the deal. As it turned out, China Molybdenum put up roughly $700 million for the purchase, and BHR raised the rest of the money from a collection of obscure companies.
A twist in the rush to get Congo’s cobalt! Hunter Biden’s firm helped a Chinese company, China Molybdenum, seal the deal to buy one of Congo’s biggest cobalt mines from a U.S. company 5/x https://t.co/0BX61OLgOk
— Dionne Searcey (@dionnesearcey) November 20, 2021
BHR also agreed to sell out its shares to China Molybdenum at a later date. By the time the sale happened in 2019, Hunter Biden had acquired 10% of BHR through a Washington-based company called Skaneateles LLC. He claims, through his lawyers, he only received nominal payouts from the purchase of the mine. Reportedly, any earnings from the investment went into the company’s operating funds.
Given concerns regarding Chinese control of valuable resources like cobalt, one wonders whether Hunter Biden’s business dealings contribute to China’s increasing power and its risk to American industry.
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